Mastering Business Growth and Leadership with Herb Cogliano

The Accidental Entrepreneur

Summary: In this conversation, Mitch Beinhaker interviews Herb Cogliano, the CEO of Aspire Growth Advisors, about his entrepreneurial journey and the lessons he learned along the way. Herb grew up in a family business and gained valuable experience from a young age. He started working in the staffing industry and eventually expanded the business to multiple states and industries. Herb emphasizes the importance of specialization and niche markets in order to differentiate from competitors. He also highlights the need for effective leadership and the challenges of managing and developing a team. Overall, Herb's story showcases the importance of adaptability, continuous learning, and strategic decision-making in business. In this conversation, Herb Cogliano discusses the challenges that CEOs face, including the need for bandwidth and the importance of delegating tasks. He also shares his journey of starting Aspire Growth Advisors and how he helps entrepreneurs scale their businesses effectively. Herb emphasizes the importance of diagnosing the gaps in a business and focuses on four key areas: people, strategy, execution, and cash. By addressing these areas, business owners can improve their chances of success and avoid the nightmare of running a business.

Keywords: entrepreneurship, family business, staffing industry, specialization, niche markets, leadership, team management, adaptability, continuous learning, strategic decision-making, CEO challenges, bandwidth, delegation, scaling a business, Aspire Growth Advisors, diagnosing business gaps, people, strategy, execution, cash

Takeaways

• Growing up in a family business provides valuable experience and insights from a young age.
• Specialization and niche markets can help differentiate a business and increase its value.
• Effective leadership and team management are crucial for business success.
• Adaptability, continuous learning, and strategic decision-making are key traits for entrepreneurs. CEOs need to recognize the need for bandwidth and delegate tasks to create space for strategic growth.
• The key areas to focus on for business growth are people, strategy, execution, and cash.
• Diagnosing the gaps in a business is crucial for identifying areas of improvement.
• By addressing people issues, such as hiring the right people and putting them in the right roles, businesses can improve productivity and employee satisfaction.
• Developing a unique and distinctive strategy helps businesses stand out in a competitive market.
• Effective execution ensures that businesses are efficient and profitable.
• Managing cash flow is essential for sustainable growth and taking advantage of opportunities.
• Self-awareness and continuous learning are important for business owners to navigate challenges and achieve success.
• Interacting with Herb Cogliano and learning from him can be done through the Aspire Growth Advisors website.

Titles

• Lessons from Growing Up in a Family Business
• The Power of Specialization and Niche Markets Diagnosing Business Gaps: The Path to Improvement
• Managing Cash Flow: The Key to Sustainable Growth

Sound Bites

• "Business is about people."
• "Scaling up was really about the ability to grow and scale your senior team."
• "Checkers have all the same pieces that move all one way. Chess pieces have unique abilities."
• "They're really putting their company on the line there by not acknowledging that it's a different skill set."
• "One of the biggest challenges we face as a CEO is bandwidth."
• "You want to be the person who works on the business and grows the business strategically."

Chapters

00:00 Introduction and Background

08:03 Exiting the Portfolio and Starting a Coaching Boutique Practice

15:37 The Importance of Strong Leadership and Scaling a Senior Team

31:15 Scaling a Business: The Four Key Areas of Focus

38:44 Diagnosing and Improving Gaps in People, Strategy, Execution, and Cash

Important Links

Scaling Up Book: https://a.co/d/iOJqwg8